Reasons to List With Professional Real Estate Agent (This is the 3rd in a series of 10 real life situations)
He returned to his family’s lot. A $1.4M home was being built there.
By Kyle Melnick, Washington Post, August 2, 2023 at 3:50 a.m. EDT
Daniel Kenigsberg was taken aback when he visited his family’s Connecticut property for the first time in about five years.
For nearly seven decades, including when he lived next door, the land was covered with trees and grass. But this spring, Kenigsberg found the trees had been cut down, and instead, a three-story house sat there on dirt.
Unsure what had happened and what he should do, Kenigsberg called his attorney, who began investigating.
Some unknown person had made a fake passport for Kenigsberg with an incorrect birthday, photo and address, Kenigsberg said.
“I was living my life normally until May 31st,” Kenigsberg said, “and all of a sudden, this happened.”
In August 2022, Kenigsberg’s property appeared for sale without his knowledge. Someone impersonating Kenigsberg signed a power of attorney in September to grant a Connecticut attorney permission to sign legal documents for him, according to the lawsuit.
How Do Fake Sellers Do It?
This is a problem across the country and here in West Michigan. According to California Department of Real Estate, the criminal:
- Searches public records to:
- Identify properties that are free of mortgage or other liens.
- Identify the property owner – This often includes vacant lots, long-term rentals, or vacation rentals, with targeted properties often owned by the elderly and/or foreigners.
- Poses as the property owner (in this case with a faked passport) and contacts a real estate agent to list the property for sale.
- Requests that the property be listed below market value to generate immediate interest.
- Requests that no “For Sale” sign be posted on the property.
- Requests preference for a cash buyer, quickly accepts an offer, and demands a quick closing.
- Refuses to meet in person, preferring to be contacted through email, text, or over phone, and typically refusing video calls.
- Refuses to attend the signing and claims to be out of state or country.
- Demands to use their own notary, who then provides falsified documents to the title company or closing attorney.
- Insists that proceeds are wired to them.
Protect Against Fake Sellers
Engage qualified professional real estate agents, attorneys, and title companies, who are experienced in real estate transactions. They can help verify the legitimacy of the seller and provide guidance throughout the process.
Remember that real estate transactions are significant financial decisions. Taking the time to conduct thorough research, work with trusted professionals, and stay vigilant can go a long way in protecting yourself against fake sellers and potential fraud.
Contact Us
Tucker Benner Realty‘s experienced professional agents are here to assist. Call or text 231-730-8781 with all your real estate questions.
Marilyn Tucker
